BlockFi Lianchuang: Alameda and FTX are the main culprits of BlockFi’s collapse

Odaily Planet Daily News Zac Prince, co-founder of bankrupt cryptocurrency lending company BlockFi, testified in the criminal trial against FTX, blaming FTX and Alameda Research for causing the bankruptcy of his own company. Prince said he would never have provided funds if he knew FTX was using a false balance sheet. Prince told prosecutors that BlockFi had a total of $1.1 billion on FTX. When prosecutors later asked Prince why BlockFi declared bankruptcy, he attributed it to Alameda and FTX. When asked if BlockFi would have borrowed money from Alameda if it knew it would use FTX client funds, Prince responded: “No, that would be inappropriate.” Prince said BlockFi recovered some of the loan, but still has $650 million outstanding. Prince added: “They put Grayscale Trust and Robinhood as collateral.” (The Block)